Tom Wang believes that you can supplement or even replace your 9-5 job with a Fulfilled By Amazon (FBA) business. For him, it is the best opportunity to earn extra cash on the web since it is semi-passive and does not require any tech expertise to start. With the aid of his FBA Masterclass program, Tom promised that you can replicate his success as a seven-figure FBA seller with over $3 million worth of products sold. “Imagine having a stable and predictable source of income that is leveraged and does not depend on you trading dollars for hours,” Tom added.
FBA Masterclass is advertised as a premier mentorship program created to help its students find success in Amazon FBA business. This is through their Single Product Profit System and their proprietary Rank and Bank method. It was founded by Tom Wang.
As indicated in the name, Single Product Profit System means that you will start selling at Amazon using one “boring everyday” product that retails for only $50 or less. According to Tom, this is to ensure that you will not waste your money on multiple products that won’t sell. Choosing only one product plus Tom teaching you how to contact 40-60 suppliers to get the absolute rock-bottom price also makes it possible to have a decent inventory at only $1,000 to $2,000 starting capital. With their Rank and Bank method, Tom assures that your store will be listed on the top of the rankings and will make sales fast.
Both methods are discussed primarily through a 200+ easy to follow modules divided into chapters. The chapters titled according to their main topic are the following: Welcome and Setup, How to Find your First Winning Product, Sourcing, Negotiation, and Logistics Secrets, Building the Foundations for Launch, 4 Week Launch Plan, PPC Setup for Launch, PPC Bulk Uploading, Before You Start Ranking, How to Get Reviews on Amazon, Maintain and Scale, and Finance Side of Amazon FBA Business. There is also a chapter for miscellaneous topics that does not fit any chapters mentioned earlier such as how to get trademark fast, how to deal with out-of-stock items, and how to do customer service on Amazon.
The said modules plus live expert coaching and mentorship calls, access to FBA Masterclass Facebook community, invitation to Level 2 super-seller group, first in-line access to partnership invitations and funding opportunities, and done for you templates costs 6997 CAD (approximately $5,490.90) onetime payment. Unfortunately, they do not offer an installment plan for such an expensive course. Also, this is without any refunds.
It is also important to note that the modules only include costly advertising methods like Facebook ads instead of teaching free alternatives such as Google SEO. It is faster to gain traction with Facebook but the cost per thousand impressions (CPM) is increasing dramatically due to COVID-19. Even the established marketers using the site is afraid of being priced out which means it is not really recommended for beginners.
To add, Amazon FBA is not a recommended business model nowadays. Tom has discussed in his sales pitch posted in the FBA Masterclass’ site that FBA is good because there is a lot of buyers at 103 million but failed to mention the number of sellers which is a lot too. There is no course that can guarantee your success in such a saturated market, and you need to spend a lot of time, effort, and money to establish your brand. Worst, you do not have control on the most important part of establishing your brand which is providing good quality products since you are just outsourcing it from a supplier. Lastly, the margin of profit is very low since you are only selling cheap items.
In conclusion, FBA Masterclass is not a scam. In fact, the content of the program is very commendable due to its comprehensiveness (except on the advertisement part). Their Single Product Profit system is also a legitimate strategy in FBA that makes the startup cost less expensive. If you are keen on starting an Amazon FBA business and you have a lot of money to spare even on the most expensive program, then this program might be a good reference for you. Otherwise, it is recommended to skip the program and choose a better business model than Amazon FBA.